Financial Performance - Bohai Leasing reported a revenue of 1.2 billion RMB for the first half of 2024, representing a 15% increase compared to the same period last year[6]. - The net profit attributable to shareholders was 300 million RMB, up 20% from the previous year[6]. - The company's operating revenue for the reporting period was CNY 16.18 billion, an increase of 19.24% compared to the same period last year, primarily due to increased aircraft sales revenue[11]. - The net profit attributable to shareholders was CNY 716.4 million, a year-on-year increase of 36.18%, while the net profit excluding non-recurring gains and losses increased by 255.70% to CNY 532.24 million[11]. - The company aims for a revenue growth target of 20% for the full year 2024[6]. - The total revenue for the first half of 2024 was reported at 10,061.30 million, reflecting a year-on-year increase of 5.8%[121]. - The company reported a net profit attributable to shareholders of 53,224.10 million RMB, a significant increase of 255.70% compared to the same period last year, which recorded a loss of 34,182.70 million RMB[141]. Assets and Liabilities - Total assets reached 25 billion RMB, an increase of 10% year-on-year[6]. - The company's total assets amounted to approximately CNY 268.547 billion, with net assets attributable to shareholders of CNY 30.886 billion as of June 30, 2024[25]. - The total liabilities as of June 30, 2024, amounted to RMB 221,164,827 thousand, a slight increase from RMB 215,931,990 thousand at the end of 2023[148]. - The company's total equity increased to RMB 47,382,183 thousand as of June 30, 2024, compared to RMB 45,612,870 thousand at the end of 2023, reflecting a growth of 3.9%[148]. - The debt-to-asset ratio was 82.36%, slightly down by 0.20% from 82.56% at the end of the previous year, indicating a stable leverage position[141]. Market Expansion and Strategy - Bohai Leasing plans to expand its market presence in Southeast Asia, targeting a 25% growth in that region by 2025[6]. - The company is exploring potential mergers and acquisitions to enhance its service offerings and market share[6]. - The company is actively pursuing strategic acquisitions to bolster its market position and expand its service offerings[116]. - The company has committed to using Bohai Leasing as the sole capital operation platform for its leasing business, ensuring no new leasing companies will be established or acquired post-acquisition[85]. Risk Management - Bohai Leasing has identified several risks, including market volatility and regulatory changes, and has outlined strategies to mitigate these risks[2]. - The company has established a comprehensive risk management system to enhance its risk awareness and control, ensuring a balance between risk and profitability[38]. - The company faces significant risks from global economic fluctuations, with the World Bank predicting a global growth rate of 2.6% in 2024[68]. - Credit risk remains a major concern, as lessees may fail to meet payment obligations, impacting the company's financial health[69]. Technology and Innovation - The company is investing 200 million RMB in new technology development for its leasing services[6]. - The company is actively involved in a feasibility study for Sustainable Aviation Fuel (SAF) in collaboration with partners, predicting SAF will significantly contribute to achieving net-zero emissions in aviation by 2050[83]. - Avolon has partnered with Airbus to support the development of hydrogen-powered commercial aircraft, focusing on financing and commercialization strategies for hydrogen aviation[83]. Environmental and Social Responsibility - The company has implemented a "green leasing" plan to integrate sustainable development into its management practices, responding to carbon neutrality goals[82]. - The company has engaged in various social responsibility projects, including educational support for underprivileged students and disaster relief initiatives globally[84]. - The company has maintained compliance with environmental regulations, with no administrative penalties reported during the reporting period[82]. Legal and Compliance Issues - The company is currently pursuing enforcement procedures for a lawsuit involving RMB 126.19 million due to unpaid rent[89]. - The company won a second-instance lawsuit regarding the recovery of leased assets and compensation for the difference in value[89]. - The company faced a lawsuit from Seaco for RMB 440.55 thousand, which is currently under trial[89]. - The company has ongoing litigation concerning an insurance claim related to Russian aircraft, with a claim amount of CNY 259,083.12 million, which has been accepted by the court and is pending a hearing[90]. Financial Management - The company has a cumulative unallocated loss of RMB 4.11 billion as of June 30, 2024, which may affect future dividend distributions[72]. - The company has committed to adhering to regulations set by the China Securities Regulatory Commission and the Shenzhen Stock Exchange, ensuring equal rights and obligations among shareholders[85]. - The company has not declared any cash dividends or stock bonuses for the first half of 2024, nor has it implemented any employee incentive plans[81]. Shareholder Information - The largest shareholder, HNA Capital Group, held 28.02% of the total shares at the end of the reporting period[127]. - The company reported a total of 1,205,471,346 shares held by its largest shareholder, HNA Capital Group, Co., Ltd., representing a significant ownership stake[130]. - The top ten shareholders include several major entities, with each holding over 263 million shares, indicating strong institutional support[130].

本公司及监事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 证券代码：000415 证券简称：渤海租赁 公告编号：2024-049 渤海租赁股份有限公司 第十届监事会第十二次会议决议公告 表决结果：3 票同意，0 票弃权，0 票反对，表决通过。 公 司 2024 年 半 年 度 报 告 及 摘 要 详 见 公 司 同 日 刊 登 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）上的公告。 经审核，公司监事会认为：董事会编制和审议 2024 年半年度报告的程序符 合法律、行政法规及中国证监会的规定，报告内容真实、准确、完整地反映了上 市公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 三、备查文件 1.渤海租赁股份有限公司第十届监事会第十二次会议决议。 特此公告。 渤海租赁股份有限公司（以下简称"渤海租赁"或"公司"）于 2024 年 8 月 19 日以通讯方式发出会议通知，于 2024 年 8 月 29 日在北京宏源大厦 10 层会议室 以现场结合通讯方式召开第十届监事会第十二次会议。会议应到监事 3 人，实到 ...

证券代码：000415 证券简称：渤海租赁 公告编号：2024-051 渤海租赁股份有限公司 关于召开 2024 年第一次临时股东大会的通知 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、误导性陈述或者重大遗漏。 一、召开会议的基本情况 渤海租赁股份有限公司（以下简称"渤海租赁"或"公司"）经第十届董事会第 八次会议审议决定于 2024 年 9 月 20 日召开公司 2024 年第一次临时股东大会。 现将有关事项通知如下： ㈠股东大会届次：2024 年第一次临时股东大会。 ㈡本次股东大会召集人：公司董事会，经公司第十届董事会第八次会议审议 决定于 2024 年 9 月 20 日召开公司 2024 年第一次临时股东大会。 ㈢会议召开的合法性及合规性：本次股东大会会议的召开符合有关法律、行 政法规、部门规章、规范性文件、深交所业务规则和本公司章程的规定。 ㈣会议召开的日期、时间： 现场会议时间：2024 年 9 月 20 日（星期五）下午 14：30； 网络投票时间：2024 年 9 月 20 日，其中，通过深圳证券交易所交易系统投 票的时间为 2024 年 9 月 20 日上午 9:15- ...

证券代码：000415 证券简称：渤海租赁 公告编号：2024-050 渤海租赁股份有限公司 关于控股子公司 Avolon Holdings Limited 与海南航空控股 股份有限公司开展飞机租赁业务暨关联交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 一、关联交易情况概述 1.渤海租赁股份有限公司（以下简称"公司"或"渤海租赁"）控股子公司 Avolon Holdings Limited（以下简称"Avolon"）之全资子公司 Avolon Leasing Ireland 3 Limited（以下简称"Avolon Ireland 3"）于 2024 年 8 月 29 日在都柏林与海南 航空控股股份有限公司（以下简称"海航控股"）签署《Operating Lease Agreement》 等相关协议。Avolon Ireland 3 将 5 架 A320NEO 飞机经营租赁给海航控股使用， 飞机产权归 Avolon Ireland 3 所有，基础租金约 34.5 万至 36 万美元/月/架，实际 租金将按协议约定在基础租金上进行适度调整，租金按月 ...

渤海租赁股份有限公司第十届董事会 独立董事专门会议 2024 年第三次会议审核意见 渤海租赁股份有限公司（以下简称"公司"）第十届董事会独立董事专门会 议2024年第三次会议于2024年8月19日以通讯方式召开。本次会议应参加独立董 事3名，实际参加独立董事3名。经全体独立董事同意，共同推举马春华先生作为 公司第十届董事会独立董事专门会议2024年第三次会议召集人并主持本次会议。 本次独立董事专门会议的召开符合《中华人民共和国公司法》《上市公司独立董 事管理办法》和《公司章程》的有关规定。本次会议形成以下审核意见： 一、《关于控股子公司Avolon Holdings Limited之全资子公司与海南航空控 股股份有限公司开展飞机租赁业务暨关联交易的议案》的审核意见 表决结果：3票同意、0票弃权、0票反对。 经审核，我们认为：本次公司与海南航空控股股份有限公司开展的5架 A320NEO飞机租赁业务属于正常的商业交易行为，存在交易的必要性，定价遵循 公平、公正、公开的原则，本次交易有利于提升公司未来年度业绩并对公司未来 年度利润产生正向影响，不存在损害公司及股东利益，特别是中小股东利益的情 形。我们同意将该议案提 ...

证券代码：000415 证券简称：渤海租赁 公告编号：2024-048 渤海租赁股份有限公司 第十届董事会第八次会议决议公告 本次会议由公司董事长金川先生主持，公司监事会主席周珮萱先生、监事马 丽女士、廖小莉女士及高级管理人员童志胜先生、王景然先生、彭鹏先生、王佳 魏先生列席本次会议。会议的召集、召开和表决程序符合有关法律、行政法规、 部门规章、规范性文件和《渤海租赁股份有限公司章程》的有关规定。 二、董事会会议审议情况 1.审议并通过《2024 年半年度报告及摘要》 表决结果：9 票同意、0 票弃权、0 票反对，表决通过。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 公 司 2024 年 半 年 度 报 告 及 摘 要 详 见 公 司 同 日 刊 登 在 巨 潮 资 讯 网 （http://www.cninfo.com.cn）上的公告。 渤海租赁股份有限公司（以下简称"渤海租赁"或"公司"）于 2024 年 8 月 19 日以通讯方式发出会议通知，于 2024 年 8 月 29 日在北京宏源大厦 10 层会议室 以现场结合通讯方式召 ...

证券代码：000415 证券简称：渤海租赁 公告编号：2024-046 渤海租赁股份有限公司 关于控股子公司 Avolon Holdings Limited 对外担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 渤海租赁股份有限公司（以下简称"公司"或"渤海租赁"）于 2024 年 3 月 29 日、4 月 23 日分别召开第十届董事会第七次会议及 2023 年年度股东大会，审 议通过了《关于公司及下属子公司 2024 年担保额度预计的议案》，详见公司于 2024 年 4 月 2 日及 2024 年 4 月 24 日在《证券时报》《上海证券报》和巨潮资 讯网（http://www.cninfo.com.cn）上披露的 2024-011、2024-014、2024-025 号公 告。 根据上述审议授权事项，2024 年公司控股子公司 Avolon Holdings Limited（以 下简称"Avolon"）及其下属子公司对 Avolon 下属全资子公司或 SPV 担保额度 总计不超过 70 亿美元，授权期限至公司 2024 年年度股东大会召开之日止 ...

证券代码：000415 证券简称：渤海租赁 公告编号：2024-044 渤海租赁股份有限公司 关于全资子公司 Global Aircraft Leasing Co., Ltd. 融资进展的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 一、融资进展情况 渤海租赁股份有限公司（以下简称"公司"或"渤海租赁"）于 2024 年 3 月 29 日、4 月 23 日分别召开第十届董事会第七次会议及 2023 年年度股东大会，审 议通过了《关于公司及下属子公司 2024 年度贷款额度预计的议案》，详见公司 于 2024 年 4 月 2 日及 2024 年 4 月 24 日在《证券时报》《上海证券报》和巨潮 资讯网（http://www.cninfo.com.cn）上披露的 2024-011、2024-025 号公告。根据 上述审议授权事项，公司全资子公司香港渤海租赁资产管理有限公司（以下简称 渤海租赁股份有限公司董事会 为满足子公司业务发展需求，香港渤海下属全资子公司 Global Aircraft Leasing Co., Ltd.（以下简称"GALC"）作 ...

证券代码：000415 证券简称：渤海租赁 公告编号：2024-045 渤海租赁股份有限公司 关于全资子公司 Global Sea Containers Two Limited 融资及对外担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 根据业务发展需要，渤海租赁股份有限公司（以下简称"公司"或"渤海租 赁"）全资子公司香港渤海租赁资产管理有限公司（以下简称"香港渤海"）下 属全资子公司 Global Sea Containers Two Limited（以下简称"GSCTL"）拟向相 关金融机构申请 10 亿美元贷款额度，香港渤海为上述贷款额度提供担保。现就 本次融资及担保相关进展情况公告如下： 一、融资进展情况 ㈠融资情况概述 2024 年 8 月 11 日，香港渤海及 GSCTL 与 Erica Asset Holding Ltd、Hampton Asset Holding Ltd 签署了《FacilityAgreement》及相关附属协议，GSCTL 作为借 款人向 Erica Asset Holding Ltd、Hampton Asset ...

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 2.56 RMB [7] Core Views - The company focuses on aircraft and container leasing, with 80% of its revenue coming from aircraft leasing and nearly 20% from container leasing in 2023 [4] - The company has a leading position in the global leasing market, with 458 aircraft orders, ranking first in the industry [4] - The company's financial performance is expected to improve due to the widening of leasing net interest margins, driven by rising aircraft rents and potential Fed rate cuts [4] Company Overview - The company has transitioned from an industrial leasing company to a global leasing giant through acquisitions of high-quality overseas leasing assets such as Seaco, Cronos, Avolon, and CIT [4] - The company's actual controller changed from the Hainan Cihang Foundation to no actual controller after the restructuring of HNA Group in 2022 [4] - The company's revenue structure is dominated by aircraft leasing, which accounted for 80% of total revenue in 2023, while container leasing contributed nearly 20% [4] Aircraft Leasing - The global aircraft leasing market has seen significant growth, with the fleet size expanding from 2,850 in 1980 to 23,561 in 2023, and the leasing penetration rate increasing from 2.4% to 51.3% [4] - The company's subsidiary, Avolon, has a fleet value of $20.82 billion and a fleet size of 576 aircraft, ranking 4th and 3rd globally, respectively [4] - The company has 458 aircraft orders, the highest in the industry, and is expected to benefit from the ongoing supply-demand imbalance in the aircraft market [4] Container Leasing - The global container leasing market is highly concentrated, with the top five companies holding 84.8% of the market share [4] - The company is the third-largest container leasing company globally, with a fleet size of 4.087 million CEU and over 750 customers [4] - The company's container leasing business is expected to benefit from the cyclical recovery in the shipping industry [4] Financial Performance - The company's revenue is expected to grow at a CAGR of 5.78% from 2024 to 2026, with net profit growing at a CAGR of 18.53% over the same period [5] - The company's PB ratio is currently 0.53x, lower than the industry average of 0.85x, indicating potential for valuation upside [5] - The company's net interest margin is expected to widen due to rising aircraft rents and potential Fed rate cuts, which will improve its financial performance [4] Industry Outlook - The global aircraft leasing market is expected to continue growing, driven by increasing demand for new aircraft and the replacement of aging fleets [4] - The container leasing market is also expected to grow, with the penetration rate projected to increase from 48.5% in 2023 to 52.6% by 2027 [4] - The company is well-positioned to benefit from these industry trends due to its strong market position and extensive global network [4]